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Non-Tech : Save The World Air Inc. (ZERO) -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (150)	7/14/2000 12:27:49 AM
From: Q.	Respond to of 445

I find lots of accounting inconsistencies in ZERO's financial statments. They simply don't make any sense to me. The latest 10Q has a balance sheet that doesn't show any current or long-term debt. However, the statement of cashflow shows a $9,980 loan during the quarter from "J&LMuller," presumably Jeff and Lynette. That should show up on the balance sheet as a debt - specifically as a loan from an officer. But it doesn't. The statement of cashflow is irregular also in that it doesn't start with the net income of $158, and show adjustments to it to yield the cash flow from operations. That's what is customary. What it starts with instead is a peculiar negative cashflow of -9822 from "trading activities" which somehow doesn't show up anywhere else in the financial statements. The 10Q balance sheet is also not consistent with the audited statement for the end of the FY in 12/31/99. The audited statement showed $36,200 of accounts payable in the current liabilities. The 10Q for 3/31/00 shows no liabilities at all. If the current liabilities went away because they were paid off, then there should be an entry in the statement of cash flow in the 10Q under the heading of "Changes in assets and liabilities", but there isn't any such entry. Yet another inconsistency can be found within the audited statements in the form 10. They don't mention any loans from the officers. In fact, the entry for "related party transactions" is blank for 1998 and 1999 as well. However, elsewhere in the form 10 it says that 100 % of the marketing and manufacturing rights for the Zero Pollution Fuel Saving Device was acquired from Mr. Jeffrey Muller on 29th December, 1998 for 5,000,000 shares and $500,000 cash(yet to be paid). Well then, the $500,000 should show up as a loan from an officer during 1998, but it doesn't. The aussie auditor let that one slip by. Moreover, that debt should still appear on the most recent balance sheet in the 10Q, but it doesn't Overall, IMHO the financial statements are not credible. I don't see any way that they support the company's often-repeated claims of being "debt-free", IMHO.

To: Q. who wrote (150)	7/14/2000 7:54:46 PM
From: RickT	Read Replies (1) \| Respond to of 445

>>Really? Maybe you need an apartment number. Could be, but they don't list one. >>OTOH, if you try this: >>Investor Relations Department: 888-811-3788 >>you get a recorded message telling you to phone the 800 number for licenses, or a non-toll-free number in New York for "any other purpose." Yes, I tried that too - with the same results. So far my DD has included the following: 1) emailed - no response. 2) call to investor relations - no result (see above) 3) snail mail - returned - "insufficient address" I guess they aren't that interested in investors. But then again, they've pumped out so many PRs in the last two weeks that I've lost count. Maybe they want investors, just not those who DD? At the risk of being labelled a basher, I think it's time to dis-invest.